Freetrade Exceeds £1m CrowdFunding Goal, Aims for £7m

After setting out to raise £1 million, Freetrade has exceeded its target and the investment platform has now managed to raise £5 million, with the company revising its Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term target to £7 million.

According to an article by AltFi, the sixth crowdfunding campaign launched by Freetrade attracted more than 5,000 investors, and the initial target of £1 million was reached in under five minutes after having raised a further £3 million from its existing shareholders.

As Finance Magnates reported earlier this month, the funding received from the investment round will be used by Freetrade for further growth and product development, including doubling down on expanding to new markets.

Commenting on the investment round, Adam Dodds, Freetrade CEO and founder, said in the statement: “Crowdfunding has played an integral part in our growth since day one, along with funding, it has brought us a loyal community that has been vital in spreading the word about Freetrade.”

“This latest round will help us build on the tremendous success we’ve had over the past couple of months, as we expand and develop new products.”

Freetrade crowdfunding success continues

Freetrade’s app offers commission-free stock investment and is targeted mainly at millennials. The London-based Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term said in an earlier statement that the new investment follows a record-breaking crowdfunding in which it secured £1 million in just 77 seconds, also on Crowdcube.

This then got a significant top-up after Freetrade raised a total of £5 million across two further crowdfunding rounds which were notably in the firm’s very first crowdfunding attempt back in 2016.

“We’ve seen record signups and trading volumes on our platform over the past couple of months. So we feel very confident going into our next crowdfunding round – something that we had planned on doing for a long time,” said Viktor Nebehaj, Freetrade chief marketing officer and co-founder, earlier this week in a statement.